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Consolidated Income Statements (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Gross sales $ 99,867 $ 92,350 $ 312,856 $ 276,913
Commissions, allowances and rebates 565 615 1,901 1,431
Net sales 99,302 91,735 310,955 275,482
Other revenue, net 97 1,244 1,823 1,657
Net revenues 99,399 92,979 312,778 277,139
Cost of goods sold 61,797 57,299 187,720 166,435
Gross profit 37,602 35,680 125,058 110,704
Operating expenses:        
Selling, general and administrative expenses 14,950 13,989 42,602 41,818
Research and development expenses 3,193 3,672 10,796 9,030
Total operating expenses 18,143 17,661 53,398 50,848
Operating profit 19,459 18,019 71,660 59,856
Other expenses/(income):        
Interest expense, net 366 517 357 1,467
Other (income)/expenses, net (71) 296 143 126
Income before income taxes 19,164 17,206 71,160 58,263
Provision for income taxes 5,443 5,330 21,784 18,569
Income from continuing operations 13,721 11,876 49,376 39,694
Loss from discontinued operations, net of tax (4,503) (129) (5,082) (291)
Net income $ 9,218 $ 11,747 $ 44,294 $ 39,403
Basic earnings/(loss) per share of common stock:        
Income from continuing operations (in dollars per share) $ 0.43 $ 0.38 $ 1.54 $ 1.27
Loss from discontinued operations, net of tax (in dollars per share) (0.14) (0.01) (0.16) (0.01)
Net income (in dollars per share) 0.29 0.37 1.38 1.26
Diluted earnings/(loss) per share of common stock:        
Income from continuing operations (in dollars per share) 0.42 0.36 1.50 1.22
Loss from discontinued operations, net of tax (in dollars per share) (0.14) 0 (0.15) 0
Net income (in dollars per share) $ 0.28 $ 0.36 $ 1.35 $ 1.22
Weighted average shares outstanding:        
Basic (in shares) 32,149 31,471 32,034 31,339
Effect of dilutive stock based compensation (in shares) 850 1,122 871 1,089
Diluted (in shares) 32,999 32,593 32,905 32,428